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Wednesday, 18 April 18
SHIPPING MARKET INSIGHT - STELIOS KOLLINTZAS
 The return of traders and charterers from the Easter festivities came along with a slight increase in activity across the edible oil markets. However, in most cases tonnage supply has been more than enough to meet demand and rates have been moving sideways as a result.
At the same time the CPP markets are not supporting the situation at all, while a trade war between China and USA is having its own effect in certain routes. Additionally, changes on import/export taxes in the regional palm oil market are also shaping the cargo flow.
As things stand, fundamentals in the veg oil market ex- South America are in charterers favour. CPP freights in the West have been in the doldrums and this is having an effect on veg oil freights as well, as several CPP owners try to find leverage on alternative markets. In addition, an increased import of CPP into Argentina/Brazil is building a long tonnage list in the South Atlantic. As if there were not enough negative factors in the market, the threat of China imposing import taxes on US agricultural products, including soy beans, is causing additional headache to traders.
The tax, which is considered a countermeasure on taxes already imposed by US on several products imported from China, is making traders cautious. This is to say that while soybean price from US has depreciated, the premium gained on the back of it by the soybean price from Argentina and Brazil, has in many cases made the product too expensive for the local crushers to buy. For the record, freight rates are still moving sideways at last done levels, USD mid-30s pmt bss 2/2 (South America/ India) on min 40,000mt.
Freight rates from the Black Sea are currently under pressure. While there is a steady flow of cargoes, the poor CPP market is pushing more Handy and MR tankers to look at loading sunflower oil from the Black Sea, however, shipments for the latter size are becoming scarcer lately. The 30-35,000mtons parcels to India are currently paying about USD high-30s/low-40s, while 35-40,000mtons parcels to China are paying about USD mid-40s, depending on port combination.
The long-haul palm oil market has generated some decent rates during the past month. However, given that the tonnage list for May is longer, unless there is an increase in activity, the positive trend is unlikely to continue. The rates for FOSFA MR ships on a TC Trip Far East/Europe are currently between 15,500-16,500 USD/pd.
Looking into the regional market, it is evident that the increased tax by 14% on India’s palm oil imports has had a significant impact on the country’s buying interest. On the contrary, Malaysia’s decision to suspend export taxes on CPO until the end of April has been partly offsetting the lack of activity in the region. Moreover China’s recently imposed 25% tariff on US soybean imports could generate a growth in demand for regional palm oil, as CPO can be used as an alternative in certain circumstances.
By Stelios Kollintzas
Specialized Products
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Wednesday, 11 July 12
HBA DROPPED SHARPLY IN JULY
COALspot.com - Indonesian HBA fell to lowest level since September 2010 in July 2012. The monthly coal reference price for coal sales this mon ...
Wednesday, 11 July 12
SUB-BIT FOB INDONESIA COAL SWAP LOST $ 1.26 PER TON
COALspot.com - Sub-Bit FOB Indonesia Coal decline for a second day yesterday, according to SGX AsiaClear OTC Coal Swaps. The prices for shipments to ...
Tuesday, 10 July 12
DRY BULK MARKET RECORDS MODEST GAINS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched a bit higher on Monday, with the Baltic Dry Index (BDI) ending the session up by 5 points to 1,162. Most markets were hig ...
Saturday, 07 July 12
INDONESIA-JAPAN RELATIONS TURN SOUR - THE JAKARTA POST
The Jakarta Post, the one of the leading Indonesian English new papers reported that, Bilateral relations between Indonesia and Japan have recently ...
Saturday, 07 July 12
EXCESS SUPPLY & WEAK DEMAND KEEP COAL PRICES LOW
COALspot.com - SGX AsiaClear OTC Coal Swaps for August and Q4 deliveries slipped slightly this week. SGX’s Indonesian sub-bituminous coal swap ...
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- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- The University of Queensland
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Deloitte Consulting - India
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- White Energy Company Limited
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Attock Cement Pakistan Limited
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